The Moneyist: My fiancé’s father is custodian of his IRA — how can I get him to relinquish control?

Dear Moneyist,

I have a question regarding my fiancé and his father. My fiancé’s father owns his own business that my fiancé has worked at on and off for the better part of a decade. The hours are always sporadic, as is the pay.

My fiancé’s father tends to withhold money from my fiancé’s paycheck to contribute to an IRA in my fiancé’s name with his father listed as the custodian. My fiancé is in his 30s. His father is dragging his feet in removing his custodianship and has been for years, leaving my fiancé unable to touch or move the money.

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